Texas Finance Code

§ 303.007 — ANNUALIZED CEILING

FI § 303.007Title 4. REGULATION OF INTEREST, LOANS, AND FINANCED TRANSACTIONS · Part A. INTEREST · Ch. 303. OPTIONAL RATE CEILINGS · Art. A. RATE CEILINGS: APPLICABILITY, COMPUTATION, AND PUBLICATION

Statute text

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The annualized ceiling may be used as an alternative to the weekly ceiling only for a written contract that involves an open-end account.

Legislative history

Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff. Sept. 1, 1999.